If I am secure with my passphrase is there a need to also secure a copy of wallet.dat? I'm a noob, just reading up on all this for the past several days.
Created a coinbase account and a bitcoin wallet on my android phone.
Sent coin to the phone.
No clue where to locate wallet.dat.
I read somewhere that your phrase IS your coin.... don't understand why I'd need the .dat file.
If you have a wallet.dat file, YES you need to back it up...in multiple locations with independent security. Anyone taking that file will have taken the bitcoin with in it.
If you're using Coinbase you won't get or need a wallet.dat file. Coinbase doesn't give you your private keys. Coinbase is a bank, you have an account, they have the bitcoin wallet, and they keep record of how much they owe you. There are convenience benefits to Coinbase and theoretical security disadvantages,
If I have a wallet.dat file? more confusion, I can't find one on my phone. There is a backup option in settings in the bitcoin android app, but no clue where this backup is stored, although I've seen some info suggesting it is on the SD Card in a format not compatible with other wallet.dat files. I am running Android 7.0 and can encrypt the phone ... but don't know if that applies to the SD card. I can remove and copy the sd card but don't know it that would work to insert in a new phone....
There is also an export function in settings, I can set a password and create a text file to email to myself, an email doesn't seem like a good idea... but the only option I can see at this time.
Regarding the pass phrase... that alone is not sufficient to somehow restore/import coin into a new wallet? My main concern is if the phone is lost or damaged, while I can remotely wipe the phone I'd need to restore the coin somewhere....
What I am starting to understand is why it will likely be a long time before this technology will be understood well enough to gain widespread consumer confidence.